Sweeney & Michel LLC Has $758,000 Stake in Invesco QQQ $QQQ

Key Points

• Sweeney & Michel LLC increased its stake in Invesco QQQ by 112.1% during Q2, holding a total of 1,368 shares valued at $758,000.
• The stock price of Invesco QQQ opened at $599.35 on Monday, with a year-to-date high of $600.05 and a low of $402.39.
• Invesco QQQ announced a quarterly dividend of $0.694, reflecting an increase from the previous $0.59 dividend, with the ex-dividend date set for September 22nd.

Sweeney & Michel LLC raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 112.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,368 shares of the exchange traded fund's stock after acquiring an additional 723 shares during the period. Sweeney & Michel LLC's holdings in Invesco QQQ were worth $758,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC lifted its stake in Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after buying an additional 176 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Invesco QQQ in the fourth quarter valued at approximately $11,247,000. Drucker Wealth 3.0 LLC lifted its position in shares of Invesco QQQ by 22.0% in the fourth quarter. Drucker Wealth 3.0 LLC now owns 650 shares of the exchange traded fund's stock valued at $333,000 after buying an additional 117 shares during the last quarter. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Invesco QQQ during the 4th quarter worth approximately $294,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.5%

QQQ traded up $2.85 during trading hours on Monday, reaching $602.20. The company's stock had a trading volume of 57,065,386 shares, compared to its average volume of 47,450,008. The company's 50-day moving average is $573.11 and its 200-day moving average is $524.79. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $602.87.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a yield of 0.5%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

Invesco QQQ Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.